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Mortgage Market Update
Cheyene DeWeese
Cheyene DeWeese
Tuesday, November 3, 2026
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Does refinancing make sense for you? |
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Not every rate move calls for action. This week, let's look at when refinancing is worth your time and money—and when it's not.
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National Mortgage Rates · November 2, 2026
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Conventional 30-Year
7.13%
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Source: Optimal Blue daily mortgage indices via FRED
Rates shown are national mortgage index rates and are provided for informational purposes only. Actual rates vary based on credit profile, loan amount, and market conditions. Please contact us for a personalized rate quote.
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Refinancing Basics
When does refinancing actually make sense?
Refinancing isn't always the right move, even when rates shift. The real question is whether the benefit outweighs what you'll pay to refinance—and how long you plan to stay in your home. If you're only considering a refi because rates dropped a fraction, the costs might not be worth it. But if your situation has changed—your credit improved, your income grew, or you want to shorten your loan term—refinancing could genuinely help. The math is different for everyone, which is why it's worth a real conversation. I can walk you through whether it pencils out for your specific loan and goals. Let's talk through whether refinancing makes sense for you right now.
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Tip of the Week
Refinancing resets your amortization clock. If you're 10 years into a 30-year loan, consider a shorter term to avoid paying more total interest.
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Tips for Homeowners
Co-Signing a Mortgage: What You're Really Agreeing To
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1.
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Co-signing makes you equally responsible for the debt. If the primary borrower misses payments, your credit score takes the same hit and the lender can pursue you for the full balance.
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2.
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The co-signed mortgage debt appears on your credit report and counts toward your DTI. This can limit your ability to qualify for your own financing until the loan is paid off or refinanced out of your name.
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3.
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There's no automatic way to remove yourself as a co-signer — the primary borrower must refinance the loan in their name alone. Get this understanding in writing before you sign.
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Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the Cheyene DeWeese team any time and we'll walk you through your options. |
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